GSTR 3B Form, Extended Due Dates for July 17 to Dec 17

As GST is new procedure for the users in India. It will take time for taxable persons to grasp in GST and apply it in their businesses. So the GSTR 3B Form is introduced for the first two month i.e. July & August 2017 from the applicability of GST in India.

As the last date to file the different returns i.e. GSTR 1, GSTR 2 and GSTR 3 under GST was round the corner but the businesses were not yet ready to file these returns within due date. They need time to go through the related forms properly and also the procedure how to file these forms electronically. If they will not fill the returns in time, the interest and penalty will be levied on them. So, the Government has understood this problem of users and gave some relaxation to them. The due date for the month of July and August 2017 has been extended for these returns, so that the users get time to understand the formats and procedure for these returns. Meanwhile, the users will have to file GSTR 3B FORM for the month of July to Dec’ 17 only.

When the registered person has filed form GSTR-3B, without payment of tax, then he is required to file form GSTR-1, GSTR-2 and GSTR-3 for providing all the information in detail, mentioned in form GSTR-3B along with the tax due. However, he should pay interest on delayed payment of tax as the tax was not paid on or before the due date. The interest shall be calculated from 26.08.2017 till the date of payment of tax i.e. debit in the electronic cash ledger. But he will not be liable to pay late fee as the form GSTR-3B was filed on or before the due date.

When the registered person has not filed the form GSTR-3B, then he is required to file the form GSTR-1, GSTR-2 & GSTR-3 along with the tax. However, he should pay interest on delayed payment of tax as the tax was not paid on or before the due date. The interest shall be calculated from 26.08.2017 till the date of payment of tax i.e. debit in the electronic cash or credit ledger. But late fee would not be paid on failure for filing the return by the due date. The Government, on the recommendation of the council, waives the fee on failure of filing of GSTR-3B by the due date, for the month of July 2017.

In case the registered person intends to amend any details furnished in FORM GSTR- 3B, it mmaybe done in the FORM GSTR-1 or FORM GSTR-2, as the case may be. For example, while preparing and furnishing the details in FORM GSTR-1, if the outward supplies have been under reported or excess reported in FORM GSTR-3B, the same maybe correctly reported in the FORM GSTR-1. Similarly, if the details of inward supplies or the eligible ITC have been reported less or more than what they should have been, the same maybe reported correctly in the FORM GSTR-2. This will get reflected in the revised outputtax liability or eligible ITC, as the case may be, of the registered person. The details furnishedin FORM GSTR-1 and FORM GSTR-2 will be auto-populated and reflected in the return inFORM GSTR-3 for that particular month.